The original Seven Essays, in a cool, new outfit ...
Email - [email protected]

All posts in General Questions

Merchandising Operation: Wilson Company

Categories: General Questions
Comments Off on Merchandising Operation: Wilson Company

Wilson Company makes all sales all sales of industrial bearings under terms of FOB shipping point. The company usually receives orders for sales approximately one week before shipping inventory to customers. For orders received late in December, Kathy Wilson, the owner, decides when to ship the goods. If profits are already at an acceptable level, Wilson’s delays shipment until January. If profits are lagging behind expectations, Wilson’s ships the goods during December.

Requirements:

1.Under Wilson’s FOB policy, when should the company record a sale?
2. Do you approve or disapprove of Wilson’s means of deciding when to ship goods to customers? If you approve, give your reason. If you disapprove, identify a better way to decide when to ship goods. (There is no accounting rule against Wilson’s practice.)

Formulate and solve an appropriate integer programming model

Categories: General Questions
Comments Off on Formulate and solve an appropriate integer programming model

In preparing for a two-week camping vacation, a family must decide how many of each of six items should be loaded into their sport-utility vehicle. The weight and perceived benefit (Where a larger benefit value indicates a more useful item) of each of the items are given in the attached file. The family’s vehicle can safely carry no more than 120 pounds of these items, given the amount of luggage that has already been loaded into the vehicle. In trying to decide what should be taken on the vacation, the family must ensure that at least half of the total weight of all objects taken is derived from the inclusion of items of type 1, 2, and 3. Also, the family must ensure that at most half of the total benefit of all objects taken is derived from the inclusion of items of type 4, 5, and 6.

Objective:
Formulate and solve an appropriate integer programming model to help this family decide how many units of each type of item to take to maximize the total benefit to be achieved.

Computer Production Planning via Linear Programming

Categories: General Questions
Comments Off on Computer Production Planning via Linear Programming

A laptop manufacturer is developing a production schedule for the next four quarters. Demands for this manufacturer’s laptop computer are forecasted to be 1200 in quarter 1; 2100 in quarter 2; 1500 in quarter in 3; and 600 in quarter 4. Assume that it costs this manufacturer $1200 to produce each laptop computer. At the end of each quarter, a holding cost of $300 per computer left in inventory is incurred. Increasing production from quarter to the next incurs costs for hiring and training new employees. It is estimated that a cost of $2100 per computer is incurred if production is increased from one quarter to the next. Decreasing production from one quarter to the next incurs costs for lying off employees, loss of morale, and so forth. It is estimated that a cost of $1800 per computer is incurred if production is decreased from one quarter to the next. All demands must be met on time, and the units produced in one quarter can be used to meet demand for the current quarter as well as for future quarters. During the quarter immediately preceding quarter 1 (e.g., the most recent quarter), 1000 laptop computers were produced. Assume that at the beginning of quarter 1 no computers are in inventory.

Objective:
Help the computer manufacturer formulate and solve a linear programming spreadsheet model to find the production schedule that minimizes total cost over the given planning horizon.

Solving the linear programming problems

Categories: General Questions
Comments Off on Solving the linear programming problems

1) The linear program Max 3X1 + 2X2 is solved subject to the constraints i) X1 + X2 =<10 ii) 3X1 + X2 =< 24 iii) X1 + 2X2 =< 16 and iv) non-negativity for both X1 and X2. Which of the following statements is true?

A.The optimal solution occurs at (4, 6).
B.The optimal solution value is 27.
C.The optimal solution occurs at (8, 0) and the optimal value is 24.
D.The optimal solution occurs at the point (6, 6).

2) The linear program Max 3X1 + 2X2 is solved subject to the constraints i) X1 + X2 =< 10 ii) 3X1 + X2 =< 24 iii) X1 + 2X2 =< 16 and iv) non-negativity for both X1 and X2. After solving the linear program, the objective function coefficient for X1 is changed from 3 to 5. Now the linear program is re-solved. Which of the following statements is true?

A.The new optimal solution occurs at (4, 6).
B.The new optimal solution occurs at (8, 0) and the optimal value is 30.
C.The new optimal solution occurs at the point (6, 6).
D.The new optimal solution value is 41.

Modern Postcard Analysis

Categories: General Questions
Comments Off on Modern Postcard Analysis

“In the Spotlight” mini-case study on Modern Postcard, visit their website for more information on the company: www.modernpostcard.com/ Then, respond to the following questions:
1. How does the company produce beautifully designed postcards so affordable?
2. How has Modern Postcard managed their operations and assets so effectively?
3. Why does Modern Postcard consider their operations customer-focused?

Business Research and Methodology

Categories: General Questions
Comments Off on Business Research and Methodology

1) How are Hypothesis Development and Theoretical Framework used in Healthcare?

2) How does the Measurement of Variables (Operation Definition) play a role in the Healthcare Field.